Excerpts from Release
On Krispy Kreme

Updated Aug. 10, 2005 11:59 p.m. ET

A special committee of directors investigating Krispy Kreme Doughnuts Inc. lashed out at the company's former chief executive, Scott A. Livengood, and former chief operating officer, John W. Tate, for focusing too heavily on beating earnings expectations at the expense of meeting the company's obligations as a public company.

After a 10-month probe, the committee issued a summary of the report on their findings. Here are some excerpts...